Marvell Technology, Inc. (NASDAQ:MRVL) has been assigned an average rating of “Buy” from the twenty-eight analysts that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $67.38.
MRVL has been the topic of several analyst reports. Bank of America increased their price target on Marvell Technology from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. Piper Sandler lifted their target price on shares of Marvell Technology from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, August 27th. Needham & Company LLC lifted their price objective on shares of Marvell Technology from $67.50 to $69.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. Cowen upped their target price on shares of Marvell Technology from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, August 27th. Finally, Barclays increased their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, August 27th.
In related news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $61.86, for a total transaction of $309,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 20,000 shares of Marvell Technology stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $62.40, for a total value of $1,248,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 65,150 shares of company stock worth $3,868,125 in the last three months. 0.33% of the stock is currently owned by insiders.
MRVL stock traded down $1.68 during midday trading on Thursday, hitting $61.39. The company’s stock had a trading volume of 319,939 shares, compared to its average volume of 8,457,097. Marvell Technology has a 1 year low of $35.30 and a 1 year high of $64.07. The company has a quick ratio of 1.25, a current ratio of 1.50 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average price is $60.80 and its 200 day moving average price is $53.59. The stock has a market cap of $50.56 billion, a price-to-earnings ratio of -131.40, a PEG ratio of 3.23 and a beta of 1.07.
Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Wednesday, August 25th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Marvell Technology had a positive return on equity of 6.40% and a negative net margin of 10.74%. During the same period in the previous year, the company posted $0.21 earnings per share. As a group, equities analysts forecast that Marvell Technology will post 0.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 27th. Shareholders of record on Monday, October 11th will be given a $0.06 dividend. The ex-dividend date is Thursday, October 7th. This represents a $0.24 annualized dividend and a yield of 0.39%. Marvell Technology’s dividend payout ratio is currently 41.38%.
About Marvell Technology
Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage and custom related solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.
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